KAVITA BANSAL,UTTAR PRADESH vs. ACIT CENTRAL CIRCLE, UTTARPRADESH
Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’, NEW DELHI
Before: Sh. Satbeer Singh Godara
This assessee’s appeal for Assessment Year 2023-24, arises against the CIT(A)-3,
Noida’s
DIN
&
order
No.
ITBA/APL/M/250/2025-26/1076923698(1) dated 11.06.2025, in proceedings u/s 143(3) of the Income Tax Act, 1961 (in short
“the Act”).
Heard both the parties at length. Case file perused.
The precise issue which arises herein for the tribunal’s apt adjudication; as per both parties respective pleadings, is that of correctness of the learned lower authorities’ action assessing the assessee qua various bullion items seized from her joint locker(s) maintained with her husband, in assessment order dated 28.03.2025 as upheld in the lower appellate discussion. There is no dispute between the parties that the above gold, Kavita Bansal
2
jewellery and bullion items etc. have been assessed to the tune of Rs.9,95,000/- in the assessee’s hands u/s 69A of the Act.
Faced with this situation, learned counsel straightway invites the tribunal’s attention to page 29 in the paper book indicating the corresponding valuation report dated 31.01.2023. His endeavour therefore is to get the assessee’s case covered under the CBDT’s landmark benevolent circular No. 1916 dated 11.05.1992 permitting 500 gms. jewellery in case of a married women. The Revenue case on the other hand is that the list of the seized items herein mainly involves 24kt. items including gold coins etc. which could not be termed as “jewelry”. This tribunal’s find merit in the Revenue’s foregoing contention to this effect as only jewellery items are being sought to be granted benefit under the CBDT benevolent circular. I accordingly see no merit in the assessee’s vehement contentions qua item Nos. 3, 4, 5 & 7 which includes only 24kt. gold coins assessed in her case.
Coming to the last item of raw gold weighing 60 gms., both the parties are fair enough in not disputing the fact that possibility of various quality or quality issues etc. therein could be altogether ruled out. That being the case, it is deemed appropriate in the larger interest of justice that the said raw gold of 60 gms. shall now be added to the extent of 30 gms. Kavita Bansal
3
only in the assessee’s hands with a rider that the same shall not be treated as a precedent. Necessary computation shall follow as per law.
No other ground or arguments has been pressed.
This assessee’s appeal is partly allowed. Order Pronounced in the Open Court on 08/10/2025. (Satbeer Singh Godara)
Judicial Member
Dated: 08/10/2025
*Subodh Kumar, Sr. PS*